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Dixons Carphone Shows Growth Amidst Brexit Concerns

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Dixons Carphone reveals post-EU referendum contingency plans as it announces "record" profit growth of 17% for the fiscal year ending April 2016.

Dixons CarphoneOverall sales for the chain covering Currys, PC World and Carphone Warehouse in the UK, as well as Elkjob and El Giganten in the Nordics and Kotsovolos in Greece, total £9.74 billion, while pre-tax profits reach £447 million, up from £381m a year earlier.

Boosting growth for the retailer in the UK are the Rugby World Cup spurring TV sales and strong demand for fridges and freezers offsetting weak PC sales. Dixons Carphone also found an opportunity in selling technology to other retailers through the Connected World Services division-- a US trial with Sprint revenues reach £152m with 26% growth during the 12-month period.

Regarding Brexit, CEO Seb James tells the BBC "we're going to see lots of screaming and shouting, but my message to my team is to absolutely make sure we do everything in our power to ensure our leaders get access to the single market and make sure we heal the rifts that this debate has caused in our society."

However the retailer does express concerns over operations outside the UK due to changes in taxes, regulations and other frameworks. Currently the Dixons Carphone Greek and Spanish operations continue to struggle, with sales dropping by -9% to £550m.

Go Dixons Carphone Results

Go Dixons Carphone Profits Jump 17% (BBC News)